Dubai-headquartered Oman Insurance is considering making a bid for the Middle Eastern operations of French insurer Axa, according to reports.
Rumours suggest that the firm is looking at the Axa business, which provides life, property and health insurance.
Oman Insurance has 12 branches in the UAE, as well as businesses in Oman and Turkey.
International Adviser has contacted Axa and Oman Insurance, but both firms did not reply in time for publication.
Reports suggest that group chief executive Thomas Buberl is keen to pull back from life insurance and less profitable markets.
There was no mention of potential sales in its latest financial results report in February 2020.